Overhaul of International Taxation Proceeding On Schedule

Plan Aims to Close Loopholes That Enable Companies to Keep Bills Low

A major overhaul of international taxation designed to eliminate loopholes that enable many companies to keep their tax bills low is proceeding on schedule, with the first of a series of draft recommendations to be published for consultation in March, the Organization for Economic Cooperation and Development said Thursday.

The 15-point action plan was developed by the OECD and backed in September 2013 by leaders from the Group of 20 industrial and developing nations. According to the schedule, G-20 governments and OECD...